特定産業 支援政策이 生産要素 投入과 生産性에 미치는 영향에 관한 硏究 : 한국의 중화학공업 육성정책을 중심으로 = An input-mix bias and productivity inefficiency under the industry specific policies : a case study on the heavy and chemical industries supprot program in Korea

다국어 초록 (Multilingual Abstract)

The industrial policy can be divided into two categories ; the general policy and the industry specific policy. The former deals with the traditional macroeconomic policies such as the fiscal and monetary policies, anti-trust issues, and the international trade policies.
Recently, the industry specific policies, once disregarded by the main stream economics but favored by the practioners for a long time, become a main issue in the academic community, especially, in the U. S. A. While Japan, Korea, Taiwan and other NIEs in Asia, which armed with the industry specific policies, have been enjoying the rapid economic growth for many years, the advanced countries, especially, the United States went through the slow productivity growth, the huge trade deficits, and the loss of competitiveness in the last two decades. The made the U. S. policy makers and academic community reevaluate the effectiveness of the active industrial policies.
This paper studied the issue of the effectiveness of a finance cum tax subsidize industry specific policies. We provide a theoretical ground that the above-mentioned policy can lead an excessive capital consumption and the deterioration of the total factor productivity. This theory was empirically tested to the heavy and chemical industry support programs for 1973-79 in Korea.
We found that the industry specific policy speeded up the targeted industries' capital growth and lowered the total factor productivity growth relative to those of the unsupported industries.
We also found that the anomaly disappeared when the subsidization completely stopped in 1984. Policy implications are evident that finance cum tax subsidized industry specific policies should be accompanies with other measures which can improve the total factor productivity such programs that enhance capital quality and or labor quality enhancing program.

목차 (Table of Contents)

• 目次
• Ⅰ. 序言
• Ⅱ. 重化學工業 育成政策
• Ⅲ. 金融 및 租稅 支援하의 最適要素投入 및 總要素生産性
• Ⅳ. 實證分析
• 1. 總要素生産性의 測定方法
• 2. 分析期間
• 3. 資料
• 4. 分析結果
• Ⅴ. 結言
• Summary